State of Alaska Department of Revenue Has $1.28 Million Stock Position in Revvity Inc. $RVTY

State of Alaska Department of Revenue reduced its position in Revvity Inc. (NYSE:RVTY) by 7.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 13,252 shares of the company’s stock after selling 1,010 shares during the period. State of Alaska Department of Revenue’s holdings in Revvity were worth $1,281,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in RVTY. Price T Rowe Associates Inc. MD increased its stake in shares of Revvity by 25.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,563,911 shares of the company’s stock valued at $1,011,863,000 after buying an additional 1,932,314 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of Revvity by 8.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 22,515,711 shares of the company’s stock valued at $2,382,163,000 after buying an additional 1,754,403 shares during the period. EdgePoint Investment Group Inc. increased its stake in shares of Revvity by 32.1% in the 1st quarter. EdgePoint Investment Group Inc. now owns 5,360,847 shares of the company’s stock valued at $567,178,000 after buying an additional 1,302,616 shares during the period. Nuveen LLC acquired a new stake in shares of Revvity in the 1st quarter valued at $28,060,000. Finally, Jennison Associates LLC acquired a new stake in shares of Revvity in the 1st quarter valued at $27,282,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on RVTY. Wall Street Zen cut Revvity from a “buy” rating to a “hold” rating in a research note on Sunday, August 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Revvity in a research note on Saturday, September 27th. Stifel Nicolaus decreased their price objective on Revvity from $120.00 to $110.00 and set a “hold” rating for the company in a research note on Tuesday, July 29th. Bank of America decreased their price objective on Revvity from $110.00 to $99.00 and set a “buy” rating for the company in a research note on Monday, September 22nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $115.00 price objective (down from $120.00) on shares of Revvity in a research note on Tuesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.57.

Revvity Stock Up 3.0%

NYSE:RVTY opened at $94.17 on Friday. Revvity Inc. has a 1 year low of $81.36 and a 1 year high of $129.50. The company has a current ratio of 3.33, a quick ratio of 2.75 and a debt-to-equity ratio of 0.43. The stock has a market cap of $10.93 billion, a price-to-earnings ratio of 39.90, a PEG ratio of 3.14 and a beta of 0.98. The stock has a 50-day moving average price of $88.08 and a two-hundred day moving average price of $93.39.

Revvity (NYSE:RVTY) last posted its earnings results on Monday, July 28th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. Revvity had a return on equity of 7.66% and a net margin of 10.19%.The firm had revenue of $720.28 million during the quarter, compared to analysts’ expectations of $711.26 million. During the same period in the previous year, the firm earned $1.22 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. As a group, equities analysts expect that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 17th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, October 17th. Revvity’s payout ratio is 11.86%.

Revvity Company Profile

Revvity, Inc provides health sciences solutions, technologies, and services in the Americas, Europe, and Asia, and internationally. The Life Sciences segment provides instruments, reagents, informatics, software, subscriptions, detection, imaging technologies, warranties, training, and services. Its Diagnostics segment provides instruments, reagents, assay platforms, and software products for the early detection of genetic disorders, such as pregnancy and early childhood, as well as infectious disease testing in the diagnostics market.